Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.603

+5.7%

Dec 18 3:59 PM EST

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To: wl9839 who wrote (15301)	5/14/1999 3:19:00 PM
From: wl9839	Read Replies (1) of 22640

Brazil Intl Reserves Up To $44.819B Thu Vs $44.529B Wed Dow Jones Newswires SAO PAULO -- Brazil's international reserves rose to $44.819 billion Thursday from $44.529 billion the previous day, the central bank said Friday. With the increase, Brazil's currency reserves have surpassed their end-1998 level of $44.56 billion. The reserves figure includes nearly $19 billion in funding from a $41.5 billion international aid package coordinated by the International Monetary Fund last November. An IMF team of economists will begin its quarterly review of Brazil's macroeconomic and fiscal performance later this month and another tranche of international funding could possibly be available by the end of June. Earlier Friday, the Brazilian government announced that the country easily surpassed one of the main performance criterion in the aid accord in the first quarter of the year. Brazil registered a primary budget surplus of 9.235 billion reals ($1=BRR1.631) in the period, compared with an IMF target of BRR6.006 billion. Brazil's daily international reserves figures are available at the central bank's web page: www.bcb.gov.br.

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